In 2003, credit unions benefited from the passing of legislation known as the Check Clearing for the 21st Century Act (H.R. 1474). The legislation simplified the process of clearing checks by transforming them into electronic format. In that same year, President George W. Bush signed into law the Fair and Accurate Transaction (FACT) Act, which included a number of provisions to curb the growing problem of identity theft.
After a nearly decade-long fight, credit unions succeeded in their push for bankruptcy reform, with President Bush signing reform legislation into law in April 2005.
In New York State, the League launched a statewide "Credit Unions for You" awareness campaign with a series of television spots and an interactive website in 2007. Shortly thereafter, the Association relocated to a nearby facility shared by Members United Corporate Federal Credit Union to deepen the partnership with Members United and reduce costs for both organizations.
